成人小说亚洲一区二区三区,亚洲国产精品一区二区三区,国产精品成人精品久久久,久久综合一区二区三区,精品无码av一区二区,国产一级a毛一级a看免费视频,欧洲uv免费在线区一二区,亚洲国产欧美中日韩成人综合视频,国产熟女一区二区三区五月婷小说,亚洲一区波多野结衣在线

立即打開
巴菲特為什么不買下《華盛頓郵報(bào)》

巴菲特為什么不買下《華盛頓郵報(bào)》

Stephen Gandel 2013-08-07
《華盛頓郵報(bào)》是美國(guó)最富盛名的報(bào)紙之一,但它員工隊(duì)伍龐大,同時(shí)又偏愛“水門事件”那樣高投入的調(diào)查性報(bào)道。因此,看好社區(qū)性報(bào)紙的巴菲特沒有出手,盡管他長(zhǎng)期以來(lái)一直持有《華盛頓郵報(bào)》的股份,而且最近還收購(gòu)了多份報(bào)紙。

????《華盛頓郵報(bào)》(the Washington Post)的收購(gòu)交易再次表明,沃倫?巴菲特對(duì)報(bào)紙的興趣有限。

????巴菲特的伯克希爾哈撒韋公司(Berkshire Hathaway)是《華盛頓郵報(bào)》的最大外部投資者,已經(jīng)持股40年,目前所持股份略高于170萬(wàn)股。按照周一盤后交易價(jià)格計(jì)算,亞馬遜(Amazon)首席執(zhí)行官杰夫?貝佐斯收購(gòu)這份重量級(jí)報(bào)紙后,巴菲特所持股份的價(jià)值已增至4,500萬(wàn)美元(2.78億元人民幣)。

????但伯克希爾哈撒韋的整體收益遠(yuǎn)不止于此。巴菲特從1973年就開始買進(jìn)《華盛頓郵報(bào)》的股份。2008年,這家公司在年報(bào)中稱,它手中的《華盛頓郵報(bào)》股票價(jià)值6.74億美元(41.59億元人民幣),持股成本1,100萬(wàn)美元(6787萬(wàn)元人民幣)。貝佐斯收購(gòu)該報(bào)后,巴菲特所持股份的價(jià)值已達(dá)到約10億美元(61.7億元人民幣)。

????那么,如果以往業(yè)績(jī)能體現(xiàn)未來(lái)收益水平,大家可能會(huì)認(rèn)為巴菲特對(duì)報(bào)紙的青睞程度稍稍上升了一些。而實(shí)際上,巴菲特最近確實(shí)頻繁表態(tài),表明自己是多么的喜歡報(bào)紙,他還在過去兩年中收購(gòu)了大概30份日?qǐng)?bào)。

????但在很長(zhǎng)一段時(shí)間內(nèi),巴菲特一直都沒有增持《華盛頓郵報(bào)》的股票。伯克希爾哈撒韋在網(wǎng)上披露的財(cái)務(wù)數(shù)據(jù)最早可追溯到1999年。當(dāng)時(shí)它持有170萬(wàn)股《華盛頓郵報(bào)》股份,目前依然如此。

????《華盛頓郵報(bào)》表示,貝佐斯以個(gè)人身份收購(gòu)該報(bào)之前,投行人士曾接觸過六位潛在買家。考慮到巴菲特和該報(bào)的長(zhǎng)期淵源以及最近他一直在報(bào)紙領(lǐng)域進(jìn)行收購(gòu),將巴菲特列入潛在買家的行列并不突兀。最起碼,《華盛頓郵報(bào)》首席執(zhí)行官唐納德?格雷厄姆有可能向巴菲特兜售過這份報(bào)紙,而后者可能也認(rèn)為拋售這份充滿傳奇色彩的報(bào)紙的時(shí)機(jī)已經(jīng)成熟。巴菲特拒絕就《華盛頓郵報(bào)》轉(zhuǎn)讓一事發(fā)表評(píng)論。

????盡管最近收購(gòu)了很多份報(bào)紙,但巴菲特對(duì)美國(guó)最主要的幾份日?qǐng)?bào)一直敬而遠(yuǎn)之。今年早些時(shí)候,巴菲特說他無(wú)意收購(gòu)論壇報(bào)業(yè)集團(tuán)(Tribune Co.)旗下那些待價(jià)而沽的報(bào)紙,其中包括《芝加哥論壇報(bào)》(Chicago Tribune)和《洛杉磯時(shí)報(bào)》(Los Angeles Times)。巴菲特曾經(jīng)表示,他認(rèn)為專門報(bào)道當(dāng)?shù)匦侣?,以?yán)密社區(qū)為立足點(diǎn)的報(bào)紙具有價(jià)值。

????不過,考慮到巴菲特長(zhǎng)期投資于《華盛頓郵報(bào)》,也許大家原以為他會(huì)為后者破例。價(jià)格似乎并不是問題所在。從平均值來(lái)看,巴菲特一直在按每位讀者500美元(3,085元人民幣)的價(jià)格收購(gòu)報(bào)紙。貝佐斯收購(gòu)《華盛頓郵報(bào)》的價(jià)格與之類似——每位讀者520美元(3,208.4元人民幣)。不過,考慮到貝佐斯還得到了其他幾份規(guī)模較小的報(bào)紙,按讀者數(shù)量計(jì)算的收購(gòu)價(jià)可能低于這個(gè)數(shù)字。也就是說,貝佐斯的收購(gòu)價(jià)完全在巴菲特可接受的范圍內(nèi)。

????相反,真正的問題似乎是,《華盛頓郵報(bào)》是美國(guó)最有影響力的報(bào)紙之一,員工隊(duì)伍大,偏愛成本昂貴的調(diào)查性報(bào)道,巴菲特是否認(rèn)為買下這份報(bào)紙是筆好買賣。看來(lái),他在評(píng)估之后給出了否定的回答。(財(cái)富中文網(wǎng))

????譯者:Charlie??

????With the sale of the Washington Post, Warren Buffett is once again showing the limits of his love affair with newspapers.

????Warren Buffett's Berkshire Hathaway (BRKA) is the largest outside investor in The Washington Post Co. (WPO) and has held the stock for four decades. Berkshire holds just over 1.7 million shares. The sale of the flagship paper to Amazon (AMZN) CEO Jeff Bezos pushed the value of Buffett's holding in the company up $45 million in after-hours trading on Monday.

????But Berkshire's overall gain is far bigger than that. Buffett first began buying shares back in 1973. In 2008, Berkshire in its annual report said the position was worth $674 million and had a cost basis of $11 million. After the sale, Buffett's stake is now worth about a billion.

????So if past performance is an indication of future gains, you would think Buffett's heart for newspapers just grew a little fonder. And indeed, Buffett has been talking a lot recently about how much he likes newspapers, and he has bought about 30 daily newspapers in the past two years.

????But Buffett hasn't added to his stake in The Washington Post Co. in a long time. The oldest financial disclosure you can get for Berkshire Hathaway online is from 1999. Back then, the company owned 1.7 million shares of The Washington Post Co., which is the same as now.

????And The Washington Post Co. said its bankers approached six other potential buyers before making a deal with Bezos, who is buying the paper personally. Given Buffett's long history with the company and the fact that he has been buying papers recently, it's not a stretch to assume Buffett was in that group of people who passed. At the very least, it's likely that Donald Graham, the Post's CEO, ran the sale past Buffett and that the billionaire agreed it was time to let the storied paper go. Buffett declined to comment on the paper's sale.

????Despite his newspaper buying spree, Buffett has avoided the nation's biggest dailies. Earlier in the year, Buffett said he wasn't interested in buying the group of papers owned by the Tribune Co., which includes the Chicago Tribune and the Los Angeles Times, which appear to be on the block. Buffett has said he sees value in newspapers in tight-knit communities that specialize in local news.

????Still, you might have expected Buffett to make an exception for The Washington Post given his long history with the paper. The problem doesn't seem to be price. On average, Buffett has been paying about $500 per customer for the papers he has bought. Bezos is paying about the same amount -- $520 per customer of the flagship paper -- but he is also getting a few smaller papers in the deal, which would bring down his cost per subscriber number. So that was well in Buffett's range.

????Instead, it appears it really came down to whether Buffett thought the business of owning one of the most influential papers in the country, with its large staff and taste for expensive investigative stories, is a good business. It appears Buffett's assessment was no.

掃描二維碼下載財(cái)富APP
亚洲欧美日韩综合久久久久| 激情综合色综合啪啪开心| 日日噜噜夜夜狠狠视频欧美人| 国产精品无码一区二区三区| 国产大神高清视频在线观看| 无码无套少妇毛多18PXXXX| 中文字幕高清免费日韩视频在线| 日本特黄特色aaa大片免费| 国产日韩亚洲一区二区| 欧美在线日韩在线亚洲第一| 欧美精品第一区二区三区| 日韩一区二区三区无码视频| 久久精品毛片免费观看| 国产精品白浆在线观看无码专区| 无码人妻精品一区二区三区99不卡| 国产日韩欧美在线综合网| 成人一区二区三区无码| 国色一卡2卡二卡4卡乱码| 国产乱子伦精品免费无码专区| 色妞色综合久久夜夜| 免费观看又污又黄又无遮挡的网站| 一区二区三区日韩欧美在线观看| 国产精品第二页在线播放| 欧美成人精精品一区二区三区网站| 精品深夜AV无码一区二区| 亚洲国产另类无码日韩| 午夜成人理论无码电影在线播放| 国产AV无码一区二区三区| 98在线视频噜噜噜国产| 日韩一区二区三区免费播放| 国产WW久久久久久久久久| 欧美性爱黄在线观看| 亚洲国产欧美日韩一线| 国产办公室秘书无码精品99| 四虎国产精品永久在线乐播| 欧美亚洲日韩日本综合久久| 操无毛小嫩逼就是过瘾| 久久久久亚洲AV无码专区首JN| 亚洲VA欧美VA天堂V国产综合| 一个人免费观看A级大片| 久久精品国产只有精品66|